Daily Bank of Canada noon rates (FXUSDCAD) by month. Find the official rate the CRA accepts for converting US-dollar transactions on your Canadian tax return.
The CRA requires Canadian taxpayers to convert foreign-currency amounts to Canadian dollars using the Bank of Canada daily noon rate on the settlement date. This applies to capital gains, dividends, and any other foreign income reported on your return.
Using an incorrect rate — such as an annual average or a rate from the trade date instead of the settlement date — can result in over- or under-reporting your income. For US stock trades, equities settle T+1, so the correct rate is typically one business day after your trade date.
These pages provide the complete daily rate history from the Bank of Canada's FXUSDCAD series for the last three tax years, making it easy to find the exact rate for any date you need.